It was almost exactly one year ago that Facebook launched Places, their location-based offering. Reading the press at the time, you would have thought it was going to be the Foursquare-killer, the Gowalla-strangler, the Loopt-beheader, etc. Nevermind that Facebook partnered with all of them for the launch -- those guys were done.
Fast forward to today: Foursquare recently raised a large round of funding valuing them at $600 million. And Facebook is killing off Places.